08/08/2022 15:45
The Guardian
Crafts and toys retailer also trims full-year outlook after online sales fall as shoppers return to storesThe Works has slashed its outlook for the full year, giving an early warning that it expects the cost of living crisis to weigh on its key Christmas trading period.The cut-price crafts, books and toys retailer, which has about 525 stores in the UK, said the market had deteriorated since January and it had “materially lowered [sales and profit] expectations” for the year to May 2023 as it was no longer certain if the pace of sales growth would offset increased costs, including high freight charges and a rise in the legal minimum wage. Continue reading...
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